Скачать или смотреть FTF Awards Video: Beware Third-Party Risks

Financial services firms are getting serious about managing their third-party providers, and cyber-security has made that very clear, says Ellen Schubert, CEO, KY3P, an IHS Markit provider.
The company, KY3P, offers a “centralized, cloud-based data hub” to help securities firms develop third-party risk management processes, incorporating vendor due diligence and monitoring, vendor officials say.
“Financial firms are very focused on third party risk. There are a couple of reasons why,” Schubert says. “I think primarily because the OCC [Office of the Comptroller of the Currency] in 2013 required financial firms to focus on third-party risk management of their vendors. However, there’s been a lot that has happened since 2013. In particular, cyber-attacks. That has become a global concern for financial institutions … for their third and fourth parties.”
It’s no longer adequate for securities firms to just control their own environments as it relates to cyber security. “It’s important to really understand that your third parties and fourth parties are doing as much as you are, in terms of controlling their environments,” Schubert says.
IHS Markit took part in the celebration of the 2017 winners of the FTF News Technology Innovation Awards and took home two awards — Best Operational Risk Management Solution and Best Corporate Actions Processing Solution. The event was held at the Dream Downtown Hotel in New York City.
CREDITS:
Video Production: Janene Knox and William J. Poznanski, Jr.
Interview conducted by: Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo